Halcon Resources Corp (HK) Receives Average Recommendation of “Hold” from Analysts

Shares of Halcon Resources Corp (NYSE:HK) have been given a consensus rating of “Hold” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.54.

Several equities research analysts recently weighed in on HK shares. JPMorgan Chase & Co. started coverage on Halcon Resources in a research note on Wednesday, July 25th. They issued a “neutral” rating and a $6.00 price target on the stock. ValuEngine raised Halcon Resources from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Bank of America reduced their price target on Halcon Resources from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 2nd. Imperial Capital reduced their price target on Halcon Resources from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, August 3rd. Finally, Zacks Investment Research raised Halcon Resources from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd.

In other Halcon Resources news, Director Ares Management Llc sold 350,000 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $3.90, for a total value of $1,365,000.00. Following the sale, the director now directly owns 86,857 shares of the company’s stock, valued at $338,742.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in HK. First Trust Advisors LP increased its position in Halcon Resources by 62.5% in the second quarter. First Trust Advisors LP now owns 496,749 shares of the energy company’s stock worth $2,181,000 after buying an additional 190,968 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Halcon Resources during the second quarter worth about $274,000. BlackRock Inc. grew its position in shares of Halcon Resources by 6.2% during the second quarter. BlackRock Inc. now owns 11,234,185 shares of the energy company’s stock worth $49,318,000 after purchasing an additional 658,502 shares in the last quarter. TCW Group Inc. grew its position in shares of Halcon Resources by 65.6% during the second quarter. TCW Group Inc. now owns 392,100 shares of the energy company’s stock worth $1,722,000 after purchasing an additional 155,300 shares in the last quarter. Finally, Sanders Morris Harris LLC grew its position in shares of Halcon Resources by 41.9% during the third quarter. Sanders Morris Harris LLC now owns 878,551 shares of the energy company’s stock worth $3,928,000 after purchasing an additional 259,500 shares in the last quarter.

Shares of HK traded down $0.03 during mid-day trading on Friday, hitting $3.45. 62,421 shares of the company’s stock traded hands, compared to its average volume of 5,082,285. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.87 and a current ratio of 0.87. Halcon Resources has a 1 year low of $3.02 and a 1 year high of $9.07. The stock has a market capitalization of $602.46 million, a PE ratio of -22.73 and a beta of 4.05.

Halcon Resources (NYSE:HK) last posted its earnings results on Wednesday, November 7th. The energy company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The business had revenue of $61.60 million for the quarter, compared to analysts’ expectations of $58.33 million. Halcon Resources had a net margin of 135.43% and a negative return on equity of 1.03%. Halcon Resources’s quarterly revenue was down 36.5% on a year-over-year basis. During the same period last year, the firm posted ($0.06) earnings per share. Research analysts forecast that Halcon Resources will post -0.01 EPS for the current fiscal year.

About Halcon Resources

Halcón Resources Corporation, an independent energy company, engages in the acquisition, production, exploration, and development of onshore oil and natural gas assets in the United States. As of February 28, 2018, the company held interests in 21,679 net acres in the Monument Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas; and 27,035 net acres in the Hackberry Draw area of the Delaware Basin, located in Pecos and Reeves Counties, Texas.

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Analyst Recommendations for Halcon Resources (NYSE:HK)

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